Scottsdale-based Furst Properties has just broke ground on the 83,000-sf second phase of the class A office project at Scottsdale Road and Greenway Parkway. It's part of Pinnacle at Kierland, which will eventually have 450,000 sf of class A office.
Furst recently completed construction on the firstphase of the project, an 88,000-sf office building. The building is already 94% leased, roughly nine months ahead of schedule.
Scottsdale has received the lion's share of lease transactions in the Phoenix area in recent years, accounting for about 60% of the 2.8 million sf of area-wide activity in 1999.
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